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NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--Kimco Realty Corporation (NYSE: KIM) today announced the sale of
7,000,000 depositary shares, each representing a 1/1000 fractional
interest in a share of the company’s 5.625% Class K Cumulative
Redeemable Preferred Stock, $1.00 par value per share. These depositary
shares, priced at $25.00 per depositary share, entitle holders of each
depositary share to a 5.625% cumulative dividend, or $1.40625 per annum,
are not convertible into common stock and are redeemable at par at the
option of the company on and after December 7, 2017.

“We are very pleased with the execution of this new perpetual preferred
stock offering”

The company intends to use the net proceeds from this offering for
general corporate purposes, including (i) funding towards the repayment
of its $198.9 million principal amount of 6% Senior Unsecured Notes due
November 30, 2012 and (ii) to reduce borrowings under its revolving
credit facility maturing October 2015.

“We are very pleased with the execution of this new perpetual preferred
stock offering,” said Dave Henry, Kimco Vice Chairman and Chief
Executive Officer. “We pride ourselves on seeking opportunities in the
capital markets to enhance our capital structure. This new perpetual
preferred stock issuance provides meaningful long-term fixed-charge
savings.”

A registration statement relating to these securities became effective
upon filing with the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

ABOUT KIMCO

Kimco Realty Corporation (NYSE: KIM) is a real estate investment trust
(REIT) headquartered in New Hyde Park, N.Y., that owns and operates
North America’s largest portfolio of neighborhood and community shopping
centers. As of September 30, 2012, the company owned interests in 922
shopping centers comprising 134.7 million square feet of leasable space
across 44 states, Puerto Rico, Canada, Mexico, Chile, Brazil and Peru.
Publicly traded on the NYSE since 1991, and included in the S&P 500
Index, the company has specialized in shopping center acquisitions,
development and management for more than 50 years.

SAFE HARBOR STATEMENT

The statements in this news release state the company’s and management’s
intentions, beliefs, expectations or projections of the future and are
forward-looking statements. It is important to note that the company’s
actual results could differ materially from those projected in such
forward-looking statements. Factors that could cause actual results to
differ materially from current expectations include, but are not limited
to, (i) general adverse economic and local real estate conditions, (ii)
the inability of major tenants to continue paying their rent obligations
due to bankruptcy, insolvency or a general downturn in their business,
(iii) financing risks, such as the inability to obtain equity, debt or
other sources of financing or refinancing on favorable terms, (iv) the
company’s ability to raise capital by selling its assets, (v) changes in
governmental laws and regulations, (vi) the level and volatility of
interest rates and foreign currency exchange rates, (vii) risks related
to the company’s international operations, (viii) the availability of
suitable acquisition and disposition opportunities, (ix) valuation and
risks related to the company’s joint venture and preferred equity
investments, (x) valuation of marketable securities and other
investments, (xi) increases in operating costs, (xii) changes in the
dividend policy for the company’s common stock, (xiii) the reduction in
the company’s income in the event of multiple lease terminations by
tenants or a failure by multiple tenants to occupy their premises in a
shopping center, (xiv) impairment charges and (xv) unanticipated changes
in the company’s intention or ability to prepay certain debt prior to
maturity and/or hold certain securities until maturity. Additional
information concerning factors that could cause actual results to differ
materially from those forward-looking statements is contained from time
to time in the company’s Securities and Exchange Commission filings,
including but not limited to the company’s Annual Report on Form 10-K
for the year ended December 31, 2011. Copies of each filing may be
obtained from the company or the Securities and Exchange Commission.

The company refers you to the documents filed by the company from time
to time with the Securities and Exchange Commission, specifically the
section titled “Risk Factors” in the company’s preliminary prospectus
supplement filed on November 28, 2012, the company’s prospectus dated
April 19, 2012 and the Annual Report on Form 10-K for the year ended
December 31, 2011, as may be updated or supplemented in the company’s
Form 10-Q filings, which discuss these and other factors that could
adversely affect the company’s results.